War5oldier

joined 4 months ago
[–] War5oldier@lemmy.world 8 points 3 months ago* (last edited 3 months ago)

That's where cash serves a purpose, as a payment method during that kind of scenario.

[–] War5oldier@lemmy.world 9 points 3 months ago (2 children)

I remember reading an article from Australia where a woman requested to withdraw a five figure sum (over 20k) in cash from her own bank account but they're like "sorry, we can't do that" making excuses on the way of "need proof on how you acquired such money", even though she provided all the evidence, they still refused anyway. She was like "WTF? It's my own money!" so there's a possibility that banks dictate how much one can withdraw.

[–] War5oldier@lemmy.world 2 points 3 months ago* (last edited 3 months ago)

I mean, more of a friends of friends or room mate (not a complete stranger). Like the memes equivalent to "kid uses mom's CC to spend on fortnite skins" but it's more on your own circle, withdrawing large sums is too obvious. So, an individual will only make their own family members or friends withdraw small amounts at a time at separate intervals (every few months).

[–] War5oldier@lemmy.world 1 points 3 months ago* (last edited 3 months ago) (2 children)

The withdrawal can be done by using another person's card (instead of your own) making it look like they did the transaction (think of skimming devices implanted onto ATMs that are compromised). However it's a grey area.

[–] War5oldier@lemmy.world 3 points 3 months ago

There are individuals who "copy existing bills exchanging those for legitimate ones with different serial numbers" (counterfeit) and that actually happens, like for example: North Korea is infamous for producing convincing clones of US$100 bills that look believeable.

 

For example: in Canada, the bank accounts of those who protested were literally frozen (for simply speaking out or being critical) and talks of potential CBDCs (aka. used to deduct funds from one's account as a fine) whilst considering on abolishing cash altogether.

The alternative (for now at least) may be Crypto (online) until they consider that "illegal" in the future penalizing those who are using it, framing that as money laundering or tax evasion, whilst pushing their propaganda of "tap & go is safe & convenient".

The answers are divided between:

  • "Cash is King" (it allows anonymous or "private" transactions between you and the merchant)
  • "Contactless" (convenient, but your purchases & transactions are monitored by the state)

Cash is apparently the last bastion of "anonymous" transactions where it doesn't appear on one's statement and one gets to keep their money without the state deducting it from their account since a nation's central bank has monopoly over CBDCs and one's funds.

That's not even the end of it: them trying to make BTC or equivalent illegal by making CBDCs the default replacing gold overnight, it would mean all those bills you have are worthless. At this point, the only payment method is CBDCs that are linked to one's digital ID.

[–] War5oldier@lemmy.world 7 points 3 months ago* (last edited 3 months ago) (1 children)

I've heard cases regarding civil asset forfeiture with citizens traveling domestically having large amounts still got it confiscated by DEA agents due to suspicion of criminal activity. So in knowing that, will they still seize non-USD currency: 30,000,000 Rials (~$78,125,000) in cash even though it's being withdrawn from an Omani bank and it's the individual's own money just carried out in multiple stacks.

 

Most countries have a cap at 10,000 USD (or foreign currency equivalent) for undeclared amounts of cash or other monetary assets, as amounts larger than that have to be declared upon travel. Crypto (like BTC or Monero) isn't counted since it's not considered as "valid currency" by the world bank.

The limit not only applies to cash since they count any assets worth of value (gold, checks, bonds, jewelery, artworks, luxury goods, high end electronics, etc). since those have been used and exploited for laundering money, I guess. So, even if he has 500 Rolexes fitted into suitcases worth over $100,000 will that still be taken?

It's like if some one has 800 Chanel Handbags & 200 Hermès watches and mens footwear combined totalling to $50,000 in value stuffed onto mutiple huge suitcases and attempts to travel with that since huge stacks of cash will be flagged, so accessories are used to bring in money.

[–] War5oldier@lemmy.world 1 points 3 months ago* (last edited 3 months ago) (2 children)

To put into perspective: there’s Beluga (a type of caviar) in Switzerland that costs Fr. 1000 or over 1.2k USD, so a Fr. 1000 bill will be accepted at luxury or high end stores.

I’ve seen a video where a German woman wanted to buy flowers with that bill but was told they don’t have enough change to hand back hence why they politely refused despite the fact this bill exists and is legal tender.

[–] War5oldier@lemmy.world 5 points 3 months ago (6 children)

Just have this instead, it's much more compact (~$1.2k in your pocket) -

 

I mean, the 100 USD bill is NOT the highest valued bill in the world, that belongs to the former B$10000 bill (withdrawn) from Brunei (I'm serious, this exists) which is worth $7874 and yes it's a single bill, also converting to around £5803 & 6677€ respectively. Like why does this bill even exist when it's hard to encounter, given that Brunei is a petro-state, it comes as no surprise.

The second highest valued bill is Fr. 1000 ($1278) or £942 & 1084€ which isn't a surprise for Switzerland to have that due to how expensive it is over there. But, it's difficult to obtain even in Switzerland and has advanced security features making hard to counterfeit due to its high value (x12 times of $100) but they sell stuff that's over Fr. 1000 anyway so it makes sense for them to have that.

The reason why they are barely featured in crime movies or mentioned in real crimes relating to counterfeit money is because of their obscurity and the fact that they don't know both exist (but it does, although either really hard to get your hands on it or ceases to circulate) however still retains their face value. The Swiss Franc is deemed a "safe haven" currency while the US Dollar isn't.

[–] War5oldier@lemmy.world 1 points 3 months ago* (last edited 3 months ago) (1 children)

It's a typo, sorry. Anyway, even though the 500€ note is considered obscure: can high end stores accept that as payment? Euros makes USD look cheap since most of their physical notes from the USD are the same size & look bland. Euro bank notes look colorful in comparison. I would say it's difficult to counterfeit Euro than US Dollars (especially the $100 bill is prone to fakes).

[–] War5oldier@lemmy.world 2 points 3 months ago* (last edited 3 months ago) (3 children)

whats with these Euros? Why cant they just accept dollars here

Little did they know, Euro is WORTH MORE than US Dollars at face value as reflected by the exchange rate. A 200€ (~$235) note is higher than $100, and there is a 500€ (~$589) note (although no longer in circulation) but nevertheless, it still exists & definitely more than $100.

 

Really? How did they make this mistake? They're different countries.

 

You've won 10,000,000 Rials from a lottery in Oman upon purchasing a lucky ticket by chance, but it's given to you all in cash (each stack is worth around 5000 Rials, given to you via 2 travel sized suitcases). It's a lot more money when you factor in currency exchange.

That amount is equal to ~$26,041,666 but are you allowed to import that much into the United States tax free? All you have at the airport is 2 suitcases, each one containing 5m Rials in hard cash. However, the stress is on CBP declaration of 10,000 USD or greater.

Even if you disclosed & declared that you possess the equivalent of 26m USD in face value worth of lottery winnings from another country, would they let you keep it or seize all that money? Is it still going to be subjected to taxation despite it NOT being in Dollars?

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submitted 3 months ago* (last edited 3 months ago) by War5oldier@lemmy.world to c/asklemmy@lemmy.ml
 

The answer is subjective, depends on the nations one has for each passport and their diplomatic ties. There are also complications on who takes jurisdiction during crisis (like disaster or war) since one country will argue on who should take control of repatriation. For example, when the Iranian conflict started: evacuation flights issued by let's say by Germany for German citizens, what happens if an British person also has a German passport (a dual citizen of a EU and a non-EU country), wouldn't the UK also say they're also a citizen.

This is what I mean, during certain situations or a crisis: who takes charge if the individual is from 2 nationalities which may cause a dispute between both sides? Like, if Britain said "This guy is British" (refering to being stranded in UAE during a drone attack) but Germany recants "He's also ours". Although the repatriation flights are intended to be for German nationals stuck there, despite the individual also having a British passport even though Germany considers this person a German citizen by their second passport.

 

Despite Scotland being considered as part of the United Kingdom, they print their own currency which issued by the Bank of Scotland (but the confusing part is that there's no separate currency code for Scottish Pounds) and the fact it is "legal currency" but not officially legal tender (even in Scotland itself), it's weird.

I would say that using GBP is better than Scottish Pound to not confuse cashiers since it's up to their discretion whether they'll accept Scottish money in Britain & vice versa. I've heard most will refuse Scottish Pound due to unfamiliarity, even worse there are three banks printing their own version of Scottish Pounds.

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submitted 3 months ago* (last edited 3 months ago) by War5oldier@lemmy.world to c/nostupidquestions@lemmy.world
 

Whenever you hear news about the Iranian conflict, it concentrates a lot more on what's happening in the UAE, Bahrain, Kuwait, Saudi Arabia or Qatar but for some reason not much updates from Oman about that despite them being a GCC member state. Does that mean Oman is spared from the conflict despite being adjacent to Iran regarding their geography?

1
submitted 3 months ago* (last edited 3 months ago) by War5oldier@lemmy.world to c/australia@aussie.zone
 

In both physical & digital copies of video games: when I've visited an store, upon looking at the price tag (they range at 90 AUD or more for a copy, seriously?!) I've also browsed through their Steam store front which isn't any better, 110-30 AUD for a digital license?! When you consider regional pricing, they end up costing more than USD (depends, like a +20% increase which is insane to me). To put it into perspective, games are cheaper in my country than they are in Australia.

 

For instance: boyfriend invested a lot and managed to secure them (they never devalued as he kept them stable for a while) but one day he passed away, the thing is that he is the main shareholder who owns said corporate entity when he was still alive (so he's the only signatory noted on paper) so what happens then? Most of the legal framework and bureaucracy are all under his name.

It definitely won't his girlfriend who'll taking over as it's not even under her name nor was she delegated that responsibility prior as the title and experience of shareholding is under her boyfriend's name. I mean, shareholders are human beings (corporations are formed by people). In this case, he is the founder of the company that managed to take off financially that succeeded.

 

I mean, think of it this way: it comes down to how often you come across words in any language including English (even in ENG: you may forget how to spell words correctly if you don't use or encounter them often), kind of the same logic with Kanji: a Japanese person doesn't know all Kanji in the same way English speakers doesn't know every single word that exists in ENG.

There are over 5000 Kanji but only about half of that is used in Japanese or closer to 2136 while the remainder consist of ones only present within technical jargon (medicine, science, politics, etc.). or certain Kanji only has limited uses in some words (but mostly written in kana). That is also accounting for grammar being "straight forward" more than English or Euro languages.

The "real" hard part is numerous readings (depending whether it's paired with kana or another kanji, reflected from kunyomi & onyomi plus nanori when applied in people's names). What I hate about most online translators is that it often gets lost in translation (like words used in the wrong context but on their own it's correct, however not right for the situation or topic at hand).

 

I've seen this video where GOOGOL gear is depicted (it takes 10^100^ years on reaching the final gear) but how many generations will it take? The 5th gear takes about 10 hours in real time, by the time the 10th one starts spinning (you're probably already dead).

The entire thing consists of 100 gears. However, even if you record or livestream a video of the entire thing: would you still be alive by the time the final gear starts spinning? The common life span of a human is around 72-73 median but some can reach 100+ up to 125.

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